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The Caterer

Southampton restaurateur buys Southsea restaurant and bar

20 July 2006
Southampton restaurateur buys Southsea restaurant and bar

Southampton restaurateur Simon Reed has snapped up the waterfront Blue Oasis restaurant and bar in Southsea for an undisclosed seven-figure sum.

The single-storey property on Clarence Esplanade was built by previous owner Tony Caparco in 1992 on the site of a former lifeboat station.

The restaurant, which commands views over the Solent towards the Isle of Wight, has a strong local trade on top of the summer tourist business.

As well as a 150-seat restaurant and bar inside, the property has an enclosed terrace with seating for another 100 customers that also serves as a dance floor and DJ area for functions.

The Winchester office of Christie + Co sold the leasehold (which, at 125 years from 1994, is a virtual freehold) within just eight weeks of marketing the property.

By Angela Frewin

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